Tax brackets are one of the most misunderstood aspects of IRS regulations. Many taxpayers do not fully grasp why tax brackets exist, how they work and what it means to move from one bracket to another. However, understanding tax brackets is crucial for everyone...
Every new year begins with Americans receiving documents like W-2 and 1099 forms in the mail, kicking off tax season. While tax day is not a holiday in the traditional sense, you may still have it circled on your calendar – especially if you...
As tax day draws closer, small business owners, freelancers and independent contractors are gearing up for a daunting time of the year. You can confidently manage tax season by arming yourself with sensible strategies and knowledge. Here are 10 tips that can help you...
Freelancers, solopreneurs, small business owners and other self-employed people face a unique set of challenges – especially when managing their taxes. Unlike employees whose employers handle tax withholdings, self-employed people must make estimated tax payments four times throughout the year. You should understand this...
Platforms like Venmo have become increasingly popular for freelancers, gig workers and people with side businesses. The convenience of transferring payments to your bank account with a few taps on your smartphone is undeniable. However, Venmo and other apps bring tax obligations you might...
As the year winds down and the holiday season kicks into high gear, managing your personal and business finances can be challenging. But fear not! Clear View Business Solutions is here with essential tips to set you up for success in 2024, keep your...
Time and money are the most precious resources for small business owners, sole proprietors and gig economy workers. When tax time rolls around again, it can be tempting to take a DIY approach with software like TurboTax. However, that method can expose you to...
Each year, the IRS adjusts tax provisions to sync with economic changes. When tax time rolls around, you’ll want to know where you fall in income tax brackets, as well as how inflation interacts with your bracket, credits and deductions. You’ll also want to...
As all of us know, taxes are one of the unavoidable facts of life. So what happens when they’re not paid? You might have heard the terms “tax evasion” and “tax avoidance”. Despite sounding similar, these terms mean two completely different things, and can...
The IRS conducts financial audits to ensure businesses and individual taxpayers report their information correctly, according to current tax laws. Selection for an audit does not always mean there is a problem or mistake with your filing. Sometimes, the IRS identifies returns to audit...
